Short answers, pulled from the story.
Alfred Nobel signed his last will and testament on the 27th of November 1895 at the Swedish-Norwegian Club in Paris. The document bequeathed 31 million Swedish kronor to establish five prizes for those who conferred the greatest benefit on mankind.
The Swedish Academy holds the power to decide every winner for the Nobel Prize in Literature. This authority was specified in Alfred Nobel's will from 1895 and confirmed by King Oscar II promulgating new statutes in 1900.
Five women won the Nobel Prize in Literature during the first century from 1901 to 1950 out of 1256 nominations. Eliza Orzeszkowa and Cecile Tormay were seriously considered for prizes in 1905 and 1936 respectively but were ultimately passed over alongside Edith Wharton and Karen Blixen.
The Swedish Academy announced the selection would be postponed until 2019 on the 4th of May 2018 following a sexual misconduct investigation involving board member Katarina Frostenson. The New Academy Prize in Literature was created as an alternative award for 2018 only and Maryse Condé won the first and only New Academy Prize in Literature.
Erik Lindberg designed the literature medal which features a portrait of Alfred Nobel in left profile on the obverse. The reverse depicts a young man sitting under a laurel tree who listens to and writes down the song of the Muse inscribed with the phrase It is beneficial to have improved human life through discovered arts.